Keurig Dr Pepper Inc. (NASDAQ:KDP) Shares Sold by Harvey Investment Co. LLC

Harvey Investment Co. LLC lowered its stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 39.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,899 shares of the company's stock after selling 47,505 shares during the period. Harvey Investment Co. LLC's holdings in Keurig Dr Pepper were worth $2,342,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. FMR LLC lifted its position in Keurig Dr Pepper by 9.8% during the 3rd quarter. FMR LLC now owns 102,183,144 shares of the company's stock worth $3,829,824,000 after acquiring an additional 9,105,164 shares during the period. State Street Corp lifted its holdings in shares of Keurig Dr Pepper by 10.9% during the third quarter. State Street Corp now owns 50,609,224 shares of the company's stock worth $1,908,289,000 after purchasing an additional 4,970,467 shares during the period. National Bank of Canada FI boosted its position in Keurig Dr Pepper by 394.3% in the third quarter. National Bank of Canada FI now owns 2,452,200 shares of the company's stock valued at $91,908,000 after buying an additional 1,956,138 shares during the last quarter. King Luther Capital Management Corp increased its holdings in Keurig Dr Pepper by 125.5% in the 3rd quarter. King Luther Capital Management Corp now owns 1,378,853 shares of the company's stock worth $51,679,000 after buying an additional 767,298 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Keurig Dr Pepper by 5.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company's stock worth $574,146,000 after buying an additional 730,297 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on KDP shares. Citigroup cut their price objective on shares of Keurig Dr Pepper from $43.00 to $40.00 and set a "buy" rating for the company in a report on Friday, October 25th. Piper Sandler began coverage on Keurig Dr Pepper in a research note on Tuesday, January 7th. They issued a "neutral" rating and a $35.00 price target on the stock. Wells Fargo & Company decreased their price objective on Keurig Dr Pepper from $42.00 to $40.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. UBS Group cut their price objective on shares of Keurig Dr Pepper from $42.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Finally, TD Cowen cut their price target on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.50.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP traded up $0.40 during midday trading on Tuesday, hitting $31.30. 3,266,893 shares of the stock were exchanged, compared to its average volume of 8,060,572. Keurig Dr Pepper Inc. has a twelve month low of $28.61 and a twelve month high of $38.28. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average price of $31.95 and a 200-day moving average price of $34.07. The stock has a market cap of $42.45 billion, a P/E ratio of 18.98, a PEG ratio of 2.16 and a beta of 0.61.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were given a $0.23 dividend. The ex-dividend date was Friday, January 3rd. This represents a $0.92 annualized dividend and a dividend yield of 2.94%. Keurig Dr Pepper's dividend payout ratio is currently 55.76%.

Insider Buying and Selling

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab purchased 3,619,600 shares of the stock in a transaction on Wednesday, January 29th. The stock was bought at an average price of $33.34 per share, for a total transaction of $120,677,464.00. Following the acquisition, the insider now directly owns 218,063,479 shares of the company's stock, valued at $7,270,236,389.86. This represents a 1.69 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper Inc owns, manufactures, and distributors beverages and single serve brewing systems in the United States and internationally. It operates through three segments: U.S. Refreshment Beverages, U.S. Coffee, and International. The U.S. Refreshment Beverages segment manufactures and distributes branded concentrates, syrup, and finished beverages.